Oil Prices

Price per barrel of WCS oil in US dollars.

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WTI Oil ($US/bbl)

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Analysis

PUBLISHED - Feb 8, 2018

The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US$57.88 a barrel in December 2017, 11.4% higher than it was a year earlier. In 2017, WTI averaged US$50.88 a barrel, 17.9% higher than in 2016. Western Canada Select (WCS), the price obtained for many Alberta producers for oil, averaged US$44.02 a barrel in December 2017, 18.4% higher than it was a year earlier. In 2017, WCS averaged US$38.98 a barrel, 32.2% higher than in 2016. The differential of WTI over WCS was US$13.86 in December 2017.